Business Strategies

We continually assess the long-term performance of each of our businesses. We monitor the ability of each business to earn more than its cost of capital over a business cycle, compete effectively, and grow. We use these criteria to adjust our business portfolio, making focused and disciplined decisions.

Our Financial Philosophy

The chief financial officer manages the company’s finances through certain basic principles. These principles focus on:

• Creating value for our shareholders
• Maintaining access to capital markets
• Carefully using capital
• Sustaining appropriate levels of liquidity

Forest Products Operating Committee

Led by the Forest Products executive vice president, this committee is charged with effectively executing business strategies (except for Real Estate) agreed upon by the chief executive officer, senior management team and board of directors. Key operational processes managed by the Forest Products executive vice president and operating committee are:

• Capital investment within the corporate budget.
• Performance management and margin improvement.
• Policy and best practices for safety, environmental leadership, information technology strategies and standardization, process reliability and customer value propositions.

For more information about our operating strategies and performance, see our latest Investor Guide (posted in April of each year in the Featured Reports section) and information from our earnings announcements and meetings with financial analysts.